Every commerce graduate dreams to build a strong career in finance domain. One such dream designation is a Budget Analyst. Budget Analysts support organizations to stay organized with their finances by maintaining a balanced budget. They organize by running regular financial reports, collaborating with executives about funding needs and assessing budget decisions about special programs or one-time expenses, according to the Bureau of Labor Statistics (BLS).1
These expert number-crunchers aren’t just focused on past and current spending. They provide extensive support to organizations in planning for the future and assess the advantages and disadvantages of making huge purchases. Though they typically don’t make final spending decisions, their recommendations are considered a valuable asset in decision making by company heads.
Budget analysts not only work with calculators and spreadsheets but also have duties other than these like Working with managers to develop program and department budgets, Plan for future expenses, Monitor company spending, Review budget proposals for accuracy and compliance with laws and regulations, Prepare regular financial reports and analyze data, help organization leaders develop alternate solutions if the recommended plans or budgets don’t meet the company’s needs and use data to make spending and planning recommendations to organization leaders.
A successful budget analyst requires a strong content knowledge and skill to make accurate calculations. He/she need to possess the updated real-time skills which will ultimately lead them towards achieving the designation of a Budget Analyst. The in-demand skills employers are seeking in candidates for budget analyst positions are Budgeting, Accounting, Financial Management, Financial Analysis, Financial Reporting, Forecasting, Microsoft Excel, Spreadsheets, Microsoft PowerPoint
Most budget analysts work in a standard office environment as full-time employees. They may typically be required to work overtime during certain seasons, such as at the end of a company’s fiscal year. Budget analysts should be able to meet deadlines year-round, so their organization has time to analyze reports and prepare for the future.
The median annual salary for a budget analyst in 2016 was $73,840, according to the BLS.1 Those in professional, scientific or technical services stand to earn even more, with their average being $81,550. The top ten percent of earners with this job title as a whole topped out at more than $111,460.
The job outlook for this career is also bright, with the BLS projecting a 7 percent increase in employment from 2016 through 2026. That’s keeping pace with the national average for all job growth, with a total of nearly 4,000 new budget analyst jobs being added by 2026.
Once you have decided to take up your career as a budget analyst, your turn comes to choose a professional course that would support you in acquiring the appropriate and updated skill set. CMA USA is one such course that could help you achieve your dream job. The course is a professional course with global recognition and updated and practical oriented content that enables enhance the skills required for a strong career as a budget analyst.